Shipyards in Korea took market share from Chinese yards in 2011 South Korean yards took market share from Chinese yards in 2011 according to a recent report in the Danish Ship Finance Review. South Korea secured new orders of 13.5 million cgt Korean yards secured almost half of the contracted capacity (13.5 million cgt). Container and Tanker orders accounted for 85% (6 million cgt and 5 million cgt respectively). South Korea therefore maintains the position as the leading global builder of Containers and Tankers. But South Korean yards also added to their market position in the specialized tonnages. For example, orders of 1 million cgt were placed for Drillships in 2011. European owners signed 60% of the orders placed in South Korea during 2011. The order cover dropped on average 14% to 28 months in 2011. Chinese yards struggled to keep pace with their South Korean peers. In 2011, Chinese yards received new orders of 9.5 million cgt (19.5 million cgt in 2010) – primarily Dry Bulk tonnage, which accounts for 60% of the Chinese orderbook. Two thirds of all new orders were placed on behalf of Chinese or European owners. The order cover of Chinese yards dropped, on average, 17% to 28 months in 2011.
A group of Naples ship owners have come to an agreement with the Chinese yard Jiangsu New Yanagzijang Construction Co. for the building of 16 90,000 ton bulk carriers. Nicola Coccia Confitarma president with a group of Naples ship-owners and representatives of the Chinese yard signed the agreement on June 20. The order was placed by Perseveranza di navigazione,d’Amato di navigazione spa, Gestioni Amatoriali spa, la Giuseppe Bottiglieri di navigazione spa e Liberty Marittime International who
According to a report from Bloomberg, Japanese shipbuilders, leapfrogged by South Korean and Chinese yards in an industry they once dominated, are counting on fuel-saving technology to help them overcome a stronger yen and high wages. A Japanese handysize dry-bulk ship typically uses about 24 tons of fuel a day, compared with 28 tons for Chinese-made ones, a Bloomberg source said. Source: Bloomberg
Athens based, Financial Analyst John Nikolaou provides an insight into the recent market trends of the shipping industry: Greek shipowners have returned to the top of the global shipping economy by controlling a gross tonnage of 164 million tons, overtaking the Japanese on 159.4 million tons. According to Clarksons, this global lead illustrates that Greeks operate much bigger ships because they own 4,984 vessels against 8,537 managed by the Japanese and 6,427 by the Chinese.
STX Shipbuilding Co., the first South Korean yard in China, had its biggest two-day gain in more than a week in Seoul on optimism the purchase of a stake in Norway's Aker Yards ASA will add cruise liners to its range of vessels. STX Shipbuilding has more than quadrupled this year, making it the fourth-best performer in South Korea's Kospi 200 index. The stake purchase in Aker Yards will allow STX Shipbuilding to use the Norwegian company's expertise in cruise liners
Asked what was previously on the site of the new Jiangmen Yinxing Shipbuilding yard, a company representative replies, “Mountains, we moved mountains to build ships.” With funds reportedly earned from ship breaking, Jiangmen Yinxing's parent firm has built two shipyards, one for building vessels 10,000 to 80,000 tons and this yard, at Jiangmen on a branch of the Pearl River, for vessels under 10,000 tons. In addition to several huge sheds the yard has several covered and open building and
Diversified SembCorp Industries Ltd., fresh from sales of key non-core assets, is hunting for foreign partners in its bid to become a global contender in its core businesses, President Wong Kok Siew said. Already Asia's largest shipyard operator, SembCorp is confident about meeting its internal target of not less than 20 percent growth in net profit per annum and has set its sights beyond Asia. "With the major divestments of non-core over
March 29, 2011 - Athens, Greece - OceanFreight Inc., (NASDAQ:OCNF) a global provider of seaborne transportation services for both drybulk and energy commodities, announced today that it has entered into an agreement to purchase two resale newbuilding 206,000 DWT capesize vessels at a well-known Chinese yard. The vessels are scheduled to be delivered in the second and fourth quarter of 2013. The vessels will be purchased from a Company ultimately controlled by our Founder and Chief Executive
The third Ulstein designed platform supply vessel of the PX105 design for Seatankers, Sea Forth, was delivered on August 16, 2013 from the Zhejiang yard in Ningbo. Ulstein delivers twelve design and equipment packages to the Chinese yard, where all the vessels for Seatankers Group will be constructed. The packages include design, engineering and equipment supplies. The ships comply with the DNV requirements of the Clean or Clean Design standards.
Berg Propulsion has secured the first Asian reference for its Berg Azimuth Thruster (BAT), launched earlier this year, in what is also the first order to involve the product’s installation by a Chinese yard. Berg has signed a contract with Singaporean oil and gas field support and logistics contractor Teras Offshore to deliver its largest BAT units to date, in the shape of two 2,500 Kw (1,600 rpm) output BAT 730 units, as well as two BTT 519 tunnel thrusters.
A Chinese fisherman was killed on Friday in a South Korean coastguard operation to apprehend his vessel which was operating illegally off South Korea's west coast, the South Korean coastguard said, drawing an angry response from China. Coastguard officers fired eight bullets when they raided
The former chairman of Chinese state-run shipyard Hudong-Zhonghua Shipbuilding has been charged with taking bribes, prosecutors said on Friday, the latest official to be swept up in President Xi Jinping's anti-corruption crackdown.
A Taiwanese company has withdrawn notice to use Chinese vessels on a renewable energy project off the island, the port authority said on Thursday, after opposition lawmakers cited security concerns about the joint operation. The last-minute decision to drop the vessels underscores the island's
U.S. and Chinese military officials will hold talks on rules of behavior at the Pentagon on Tuesday and Wednesday, a U.S. official said, days after the United States denounced a "dangerous" Chinese jet intercept of a U.S. Navy patrol plane.
MacGregor, part of Cargotec, has secured a new contract from Chinese shipbuilder, Fujian Mawei Shipbuilding Ltd., for two 100-metric-ton active heave-compensated subsea MacGregor cranes. The cranes will be fitted to two 86-meter multipurpose platform supply vessels (PSVs) under construction at the
China rejected Philippine complaints on Wednesday about Chinese survey vessels operating in a gas-rich area of Manila's exclusive economic zone, and has lodged a separate complaint about the detention of Chinese workers, as tensions persist.
Philippine President Benigno Aquino said two Chinese survey vessels had been sighted in a gas-rich area of its exclusive economic zone, raising concerns of heightened tensions in the disputed South China Sea. China claims almost the entire South China Sea
Dry Bulk Shipping: All eyes on Brazilian iron ore exports, as we await the long-anticipated lift in freight rates. Demand The freight market, which performed so well in Q1, has certainly not delivered in the past four months. BDI has dropped from 1,621 on March 20 to hit 747 on July 29
Seven Chinese crew members were rescued after their fishing vessel caught fire and sunk at 18 NM Southeast off Mouligi Island, Mapun in Tawi-Tawi, August 13, 2014. Coast Guard Station (CGS) Mapun disclosed that a certain Jonathan Tiblan, an employee of Municipal Hospital in Mapun
Drilling rig builder Sembcorp Marine Ltd said on Monday its second-quarter net profit rose 5.4 percent from a year earlier, helped by stronger performance from its rig building and fixed platform businesses. The Singaporean company reported a net profit for the quarter ended on June 30 of S$131
Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO Shipyards have announced a number of orders, inform Clarkson Hellas with two firm plus two option x 82
Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture for manufacturing medium and large bore medium speed diesel and dual-fuel engines. The CSSC Wärtsilä Engine (Shanghai) Co
Kongsberg Maritime’s Full Picture solution has been selected by Chinese and Korean shipbuilders for 13 advanced newbuild offshore vessels with a total value of 330 MNOK. Dalian Shipbuilding Industry Offshore Co. (DSIC), CIMC Raffles (CIMC)
Yangzijiang Shipbuilding Holdings Limited announced that yesterday was a “momentous” for the group, as senior Chinese officials paid visit to Yangzijiang’s shipyard and the group’s chairman received the Outstanding Entrepreneur Award by the Chinese Enterprises Association
Vietnam said on Wednesday a Chinese oil rig at the center of an increasingly bitter territorial dispute appeared to be on the move again, as China denied Vietnamese accusations that it had sent warships to the scene. The rig's deployment triggered anti-Chinese riots in Vietnam last month that